Wallace Advisory Group LLC Makes New $308,000 Investment in SPS Commerce, Inc. (NASDAQ:SPSC)

Wallace Advisory Group LLC purchased a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,398 shares of the software maker’s stock, valued at approximately $308,000.

Several other hedge funds have also recently modified their holdings of SPSC. Belpointe Asset Management LLC purchased a new position in SPS Commerce during the 4th quarter worth $31,000. CWM LLC raised its holdings in SPS Commerce by 40.8% during the fourth quarter. CWM LLC now owns 314 shares of the software maker’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. State of Wyoming lifted its position in SPS Commerce by 40.2% in the fourth quarter. State of Wyoming now owns 356 shares of the software maker’s stock valued at $46,000 after purchasing an additional 102 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in SPS Commerce by 21.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 460 shares of the software maker’s stock valued at $59,000 after purchasing an additional 80 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in SPS Commerce by 440.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 865 shares of the software maker’s stock worth $107,000 after purchasing an additional 705 shares during the period. 99.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPSC has been the subject of several recent analyst reports. Craig Hallum raised their price target on SPS Commerce from $160.00 to $165.00 in a report on Thursday, April 27th. StockNews.com began coverage on shares of SPS Commerce in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Northland Securities boosted their price objective on shares of SPS Commerce from $151.00 to $154.00 in a report on Thursday, April 27th. Finally, Needham & Company LLC lifted their price target on shares of SPS Commerce from $160.00 to $205.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

Insiders Place Their Bets

In other news, CFO Kimberly K. Nelson sold 5,190 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $163.39, for a total value of $847,994.10. Following the completion of the transaction, the chief financial officer now owns 148,734 shares of the company’s stock, valued at $24,301,648.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Kimberly K. Nelson sold 5,190 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $163.39, for a total transaction of $847,994.10. Following the transaction, the chief financial officer now directly owns 148,734 shares in the company, valued at $24,301,648.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James J. Frome sold 3,772 shares of SPS Commerce stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $169.48, for a total value of $639,278.56. Following the completion of the sale, the chief operating officer now owns 34,332 shares of the company’s stock, valued at approximately $5,818,587.36. The disclosure for this sale can be found here. Insiders have sold 12,562 shares of company stock valued at $2,074,469 in the last ninety days. Insiders own 1.20% of the company’s stock.

SPS Commerce Stock Performance

SPSC stock opened at $182.02 on Friday. The stock’s 50 day moving average price is $157.36 and its 200 day moving average price is $145.72. The firm has a market cap of $6.65 billion, a P/E ratio of 116.68 and a beta of 0.77. SPS Commerce, Inc. has a 1 year low of $97.75 and a 1 year high of $182.22.

SPS Commerce (NASDAQ:SPSC – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The software maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.13. The business had revenue of $125.87 million for the quarter, compared to the consensus estimate of $124.03 million. SPS Commerce had a return on equity of 12.78% and a net margin of 12.26%. On average, research analysts predict that SPS Commerce, Inc. will post 1.79 earnings per share for the current year.

SPS Commerce Profile

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SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.

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